USD/JPY resistance, support and Fibonacci
USD/JPY short downtrend on H1.
You can see the importance of diagonal resistance and support marked by red lines, creating a kind of tunnel.
On the top of that we have a Fibonacci retracement. Strongest resistance usually at 0.5 and 0.618 levels.
By drawing these it's easier to tell the entry point.
These levels work as resistance, in this case, and giving you an idea where to enter the trade
#SmartInvestmentTeam
You can see the importance of diagonal resistance and support marked by red lines, creating a kind of tunnel.
On the top of that we have a Fibonacci retracement. Strongest resistance usually at 0.5 and 0.618 levels.
By drawing these it's easier to tell the entry point.
These levels work as resistance, in this case, and giving you an idea where to enter the trade
#SmartInvestmentTeam
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